https://www.taxtmi.com/caselaws?id=3578 The High Court dismissed the Revenue's appeal, affirming the Assessee's eligibility for deduction under Section 80-IA of the Income Tax Act. The Court found that the Assessee's new industrial unit, formed through substantial investment and technological advancements, met the criteria under Section 80-IA, as it was distinct from the old undertaking and introduced new technology and processes. The Tribunal's decision, stating the old unit ceased to exist and was absorbed by the new unit, was upheld, with the High Court finding no legal flaws in the Tribunal's reasoning. en-us Mon, 31 Mar 2008 00:00:00 +0530 Thu, 31 Mar 2016 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3578 The High Court dismissed the Revenue's appeal, affirming the Assessee's eligibility for deduction under Section 80-IA of the Income Tax Act. The Court found that the Assessee's new industrial unit, formed through substantial investment and technological advancements, met the criteria under Section 80-IA, as it was distinct from the old undertaking and introduced new technology and processes. The Tribunal's decision, stating the old unit ceased to exist and was absorbed by the new unit, was upheld, with the High Court finding no legal flaws in the Tribunal's reasoning. Case-Laws Income Tax Mon, 31 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3578